SOURCE: Costco

April 17, 2015 16:58 ET

Costco Wholesale Corporation Announces Reauthorization of Its Stock Repurchase Program and an Increase in Its Quarterly Cash Dividend

ISSAQUAH, WA--(Marketwired - Apr 17, 2015) - Costco Wholesale Corporation ("Costco" or the "Company") (NASDAQ: COST) today announced that its Board of Directors has reauthorized a common stock repurchase program of up to $4 billion. This program will expire in April 2019 and replaces the current $4 billion program (expiring this month), which has unused authorization of approximately $2.5 billion. The Board of Directors also declared a quarterly cash dividend on Costco common stock and approved a quarterly increase from $.355 to $.40 per share, or $1.60 per share on an annualized basis. The dividend is payable May 15, 2015, to shareholders of record at the close of business on May 1, 2015.

Costco currently operates 672 warehouses, including 474 in the United States and Puerto Rico, 89 in Canada, 34 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, seven in Australia and one in Spain. The Company plans to open up to an additional 16 new warehouses (including one relocation to a larger and better-located facility) prior to the end of its fiscal year on August 30, 2015. Costco also operates electronic commerce web sites in the U.S., Canada, the United Kingdom and Mexico.

Certain statements contained in this document constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (including health care costs), energy and certain commodities, geopolitical conditions, and other risks identified from time to time in the Company's public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements, except as required by law.

Contact Information

  • CONTACTS:

    Costco Wholesale Corporation

    Richard Galanti
    425/313-8203

    Bob Nelson
    425/313-8255

    Jeff Elliott
    425/313-8264